The Ontario Teachers’ Pension Plan is considering selling Amica Senior Lifestyles in a deal that could be worth $5 billion, according to report by Bloomberg.

The Ontario Teachers’ acquired the senior luxury residence operator in 2015 through a transaction by its subsidiary BayBridge Seniors Housing Inc., which includes more than 30 assets in British Columbia and Ontario. The investment organization hasn’t made a final decision on the seniors’ residence operator, the report said.

Read: Ontario Teachers’ to acquire Amica Mature Lifestyles

In other news, Ivanhoé Cambridge, the real estate arm of the Caisse de dépôt et placement du Québec, is forming a new joint venture with student housing accommodation provider Scape Australia.

The joint venture, which also includes APG Asset Management N.V., will seek to invest and develop custom-built student accommodations in Australia. The joint venture is seeded with a 1,000 unit purpose-built-student accommodation asset in Melbourne.

The new group represents the third development joint venture for Ivanhoé Cambridge. Financial details of the transaction weren’t disclosed.

“The exposure to this development [joint venture] complements our recent investment in Scape core program and will further diversify our [Asia-Pacific] portfolio with defensive cashflows that are driven by the favourable demographics in the region and the demand for quality education in Australia,” said George Agethen, head of Asia-Pacific at Ivanhoé Cambridge, in a press release.

Read: Ivanhoé Cambridge launches joint venture in Brazilian logistics real estate